Bitcoin headed for ‘perfect storm’ to new all-time high — Bitfinex
Bitfinex analysts say Bitcoin could reach an all-time high after the US election, with market conditions forming a “perfect storm” for a major price push.
BTC price gains are boosting bullish sentiment, but the latest Bitcoin market analysis calls for a balanced perspective.
Bitcoin derivatives markets are setting up for a potential BTC rally above $80,000 before the end of 2024, fueled by excitement over a potential Trump victory.
October 29, 2024, 9:17 amIf Bitcoin produces a clear move above $72,000, its price could be in the six-figure range by 2025, the latest market analysts suggests.
October 29, 2024, 8:50 am
Bitfinex analysts say Bitcoin could reach an all-time high after the US election, with market conditions forming a “perfect storm” for a major price push.
BTC added 5% in the past 24 hours, CoinGecko data shows, breaking out of a key $70,000 resistance with $48 billion in trading volumes, or nearly double the volumes from Monday.
Data shows a high concentration of bets around an $80,000 Bitcoin strike price and a strong presence of short-term call sales.
Deficit spending and lower interest rates have boosted global liquidity, benefiting Bitcoin and related markets, Blockware’s Mitchell Askew said.
Bitcoin has blown past $70,000 again after months of struggle. Will it hit a new all-time high ahead of the election?
Bitcoin has topped $70,000, its highest price since June after US-based ETFs surpassed total net inflows of over $22 billion.
The price still remains below its record high of $73,700 hit in early March of this year.
The Defend American Jobs political action committee has spent more than $40 million on media buys supporting businessman Bernie Moreno’s Senate run.
Bitcoin's "bullish setup" into the U.S. election next week mirrors late 2020, which preceded a 120% rally in two months, Matthew Sigel of VanEck said.
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